Mr. Nicholas Kadysh reports

PHARMALA SIGNS SUPPLY & DATA AGREEMENT WITH NAUTILUS SANCTUARY FOR PHASE 2 MDMA CLINICAL TRIAL TREATING POST-TRAUMATIC STRESS AND ADJUSTMENT DISORDER IN FRONTLINE HEALTHCARE WORKERS AND FIRST RESPONDERS

Pharmala Biotech Holdings Inc. has executed a supply and data agreement with Nautilus Sanctuary Inc. of Brooklyn, New York, for the provision of MDMA for use in a phase 2 clinical trial in the United States.

Under the agreement, Pharmala will supply its LaNeo MDMA to Nautilus Sanctuary for use in an open-label clinical trial entitled, "An Open Label Study to Treat Post-Traumatic Stress in Frontline Healthcare Workers and First Responders Using MDMA-Assisted Therapy."

"We deeply appreciate Pharmala's donation of LaNeo MDMA to our study of frontline responders," said Dr. Willa Hall, president of Nautilus Sanctuary. "Their generosity helps accelerate important clinical research into the therapeutic potential of MDMA as a safe and effective adjunct to good trauma care."

In consideration for the supply of LaNeo MDMA, Nautilus Sanctuary will grant Pharmala a perpetual, non-exclusive licence to the clinical trial data, which includes pseudonymized and de-identified raw data sets as well as Nautilus Sanctuary's analysis of the safety and efficacy of the intervention. The licence permits Pharmala to use the data for regulatory approvals and any commercial purpose in any jurisdiction globally.

"This agreement represents a continuation of our innovative supply-for-data model, which we believe creates significant value for both parties," said Nicholas Kadysh, chief executive officer of Pharmala Biotech. "Frontline health care workers and first responders bear an enormous mental health burden and we are proud to support Nautilus Sanctuary in their efforts to bring MDMA-assisted therapy to these critical populations. The clinical data generated in the United States under this agreement will be an important addition to our growing portfolio of clinical evidence supporting the safety and efficacy of LaNeo MDMA."

About Pharmala Biotech Holdings Inc.

Pharmala Biotech Holdings is a biotechnology company focused on the research, development and manufacturing of MDXX-class molecules, including MDMA. Pharmala was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials as well as commercial sales in selected jurisdictions and to develop novel drugs in the same class.

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